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Stop the Foreclosure, we can help!

by Bob Sokoler

Steven and Deb Jeffries just sold their home in a short sale. Seven out of ten people facing a foreclosure never call a realtor or their bank to stop a foreclosure! Only a handful of realtors have actually been trained to handle a short sale properly. An agent who says  there is no correct way is in denial and I don’t mean a river in Egypt. Bob and Norine Sokoler are advanced CDPE certified and along with their team navigate through the red tape known as a short sale.  After watching the video call the Bob Sokoler and Medley Sokoler Team at (502) 376-5483 or head to www.weselllouisville.com or www.stoplouisvilleforeclosures.com.

 

What are some of the risks in buying a Foreclosure

by Bob Sokoler

Every day you hear the media talking about how easy it is to get a great deal when buying a home that was in Foreclosure. In Louisville Kentucky, there are an estimated 200 foreclosure sales every month. But what you don’t hear about in the media are the time delays associated with foreclosures. As part of our Live Video Blog series we talked with one of our clients just as they closed on a foreclosure home we found in Jefferson County.
Should you buy a Foreclosure? from Bob Sokoler on Vimeo.

A Foreclosure is not an option, get short sale help!

by Bob Sokoler

Did you know that 7 out of 10 homeowners facing foreclosure never get help from their lending institution to work out a payment plan, or a realtor who can help sell their home in a Short Sale.

The problem is going to get worse as more and more homeowners are heading towards foreclosure. A new article published on Housingwire.com  has the title Subprime Mortgage Delinquencies Building, Again”. The article points to another wave of upcoming foreclosures. Help may be coming is some form, an article published yesterday on Inman.com says nearly $4 billion in federal grants will be spent to help state and local governments buy foreclosed and abandoned homes The big problem is that for thousands of area homeowners in financial trouble, foreclosure may seem like a viable option. STOP! Before you make that decision you need to know the consequences of a foreclosure on your personal life (yes I said life) and the alternatives.

Foreclosure will affect you for years to come. For example:                  

1)    Some employers now run credit checks on their employees and a foreclosure can put your current position in jeopardy!

2)    A foreclosure is one of the top items that will put a potential new hire in jeopardy if the perspective employer runs a credit check.

3)    If you have a security clearance or government position or you’re in military or law enforcement a foreclosure could affect your status, you may be shocked to find out your job or clearance could be in jeopardy.

4)    You’ll have to disclose the foreclosure on any mortgage and many job applications.

5)    A foreclosure can haunt you for years, starting with your credit scores being lowered by 300+ points.

6)    You’ll be ineligible for a government insured loan for 5 to 7 years (only 2 years in a short sale).

7)    You may end up with a Deficiency Judgment (the mortgage company can still attempt to collect the money they lost from you).

Need help? I’m a realtor at RE/MAX Property East and a C.D.P.E. Certified Distressed Property Expert.  Visit http://www.LouisvilleShortSaleHelp.com or Contact Bob at http://www.weselllouisville.com/ or bob@bobsokoler.com.

Displaying blog entries 1-3 of 3

Contact Information

Photo of The Sokoler- Medley Team Real Estate
The Sokoler- Medley Team
RE/MAX Properties East
10525 Timberwood Circle Suite 100
Louisville KY 40223
502-376-5483
502 992-4137
Fax: 502-719-8152